iA Global Asset Management Inc. Sells 58,223 Shares of Monster Beverage Co. (NASDAQ:MNST)

iA Global Asset Management Inc. decreased its position in shares of Monster Beverage Co. (NASDAQ:MNST) by 35.1% during the 3rd quarter, HoldingsChannel.com reports. The fund owned 107,656 shares of the company’s stock after selling 58,223 shares during the period. iA Global Asset Management Inc.’s holdings in Monster Beverage were worth $5,616,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in MNST. Stephens Consulting LLC bought a new position in shares of Monster Beverage in the 2nd quarter valued at $26,000. Kings Path Partners LLC bought a new position in Monster Beverage in the second quarter valued at about $30,000. University of Texas Texas AM Investment Management Co. acquired a new position in Monster Beverage during the second quarter worth about $30,000. Quarry LP lifted its holdings in shares of Monster Beverage by 152.0% in the second quarter. Quarry LP now owns 824 shares of the company’s stock worth $41,000 after acquiring an additional 497 shares during the last quarter. Finally, Crewe Advisors LLC boosted its stake in shares of Monster Beverage by 37.5% in the 2nd quarter. Crewe Advisors LLC now owns 850 shares of the company’s stock valued at $42,000 after purchasing an additional 232 shares in the last quarter. 72.36% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on the stock. UBS Group increased their price objective on shares of Monster Beverage from $55.00 to $57.00 and gave the company a “neutral” rating in a research note on Friday, November 8th. Needham & Company LLC began coverage on Monster Beverage in a report on Friday. They set a “hold” rating on the stock. Bank of America boosted their price objective on Monster Beverage from $56.00 to $57.00 and gave the stock a “buy” rating in a research report on Tuesday, October 15th. JPMorgan Chase & Co. cut their price target on Monster Beverage from $50.00 to $49.00 and set a “neutral” rating on the stock in a research note on Monday, November 4th. Finally, Roth Mkm lowered their price objective on Monster Beverage from $56.00 to $50.00 and set a “neutral” rating for the company in a research note on Monday, August 12th. Two equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and thirteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $56.45.

Monster Beverage Trading Down 1.6 %

MNST opened at $52.27 on Friday. The company has a market cap of $50.83 billion, a P/E ratio of 33.51, a price-to-earnings-growth ratio of 2.57 and a beta of 0.74. The company has a fifty day moving average price of $53.25 and a two-hundred day moving average price of $51.05. The company has a current ratio of 3.13, a quick ratio of 2.51 and a debt-to-equity ratio of 0.13. Monster Beverage Co. has a 1-year low of $43.32 and a 1-year high of $61.22.

About Monster Beverage

Monster Beverage Corporation, through its subsidiaries, engages in development, marketing, sale, and distribution of energy drink beverages and concentrates in the United States and internationally. The company operates through three segments: Monster Energy Drinks, Strategic Brands, Alcohol Brands, and Other.